IBS Capital Corporation, a Massachusetts corporation formed in 1990, is the General Partner of the Partnership and is solely responsible for making all investment and related decisions for the Partnership. David A. Taft, 48, is the President of IBS Capital and serves as the Manager of the Partnership.

IBS Capital Corporation is an investment firm located in Boston that, as the General Partner of the Fund, provides management and administrative services to the Partnership. Mr. Taft founded IBS Capital Corporation in June 1990 after spending five years with Drexel Burnham Lambert as a Vice President in the Corporate Finance Group. Prior to joining Drexel Burnham Lambert in 1985, Mr. Taft worked for a total of five years in the Corporate Finance departments of Winthrop Financial (1983-1985) and Merrill Lynch (1979-1981). Mr. Taft graduated cum laude from Amherst College with a double major in Economics and Political Science in 1979 and earned his M.B.A. from The Amos Tuck School at Dartmouth College in 1983.

Mr. Taft has over 25 years of experience in the capital markets and is a member of The Boston Security Analysts Society and the Association for Investment Management and Research (AIMR). He formerly was a registered representative in securities as well as commodity and financial futures while employed by the broker/dealers mentioned above.

Mr. Taft has been trading and investing in event-driven securities in the United States as well as foreign and emerging markets since he founded IBS Capital Corporation in 1990. During this period, Mr. Taft has consistently produced some of the highest pre-tax and after-tax returns in the hedge fund industry. For the fourteen years from July 1, 1990 through December, 2004 Mr. Taft produced a cumulative return of 2104% versus 308% produced by the Russell 3000.

< back